Growing Industrial Demand for Silver Highlighted at 2015 Silver Industrial Conference

(Washington, D.C. – November 12, 2015)  The Silver Institute recently conducted the Second Silver Industrial Conference where executives and experts from many industrial sectors –including electronics, the textile and chemical industries, regulatory agencies and financial firms — came together in Washington, D.C., to examine the increasing demand for industrial silver.  A broad range of established and emerging products from solar energy to odor-resisting textiles were discussed by speakers from the U.S. and abroad.  There is, said presenters, a growing demand for silver as industry has turned increasingly to advanced, technological products and systems that require the unique qualities of the white metal.

In his introductory remarks, Michael DiRienzo, Executive Director of the Silver Institute, said silver industrial demand accounted for 56 percent of overall demand in 2014.  He noted that the reflective and conductive qualities of silver were superior to other metals as today’s high tech products advance onto the market.

In giving an overview of the current silver market, David Jollie, Strategic Analyst at Mitsui Global Precious Metals, stated that silver is truly a “hybrid metal,” serving as an essential component in so many of the world’s established and emerging industries, and as a precious possession for millions of investors around the world.

A growing use of silver is its use in solar energy.  Erica Rannestad, Senior Analyst for GFMS Thomson Reuters, a global research firm, said silver is an indispensable part of the solar energy chain.  Rannestad stated that silver use in solar energy is expected to surge 17% in 2015 to total 74.2 million ounces, the strongest rate of growth since 2011.

However, it isn’t only in advanced high tech or electronic products where silver plays an essential role. The white metal’s role as a critical element in the production of ethylene oxide, (EO), a basic chemical vital in the manufacture of so many products commonly used in everyday life like polyester fiber, was also examined.

Silver’s irreplaceable role as a conductor in so many electronic products is well known and was discussed at the conference. It is found in computers, cell phones, tablets and numerous other electronic products.

The metal’s natural antibacterial properties were also a topic at the conference.  Silver is found in medical applications all over the world; it’s inherently antimicrobial and controls hundreds of pathogens.

As such, silver is now integrated into fabrics.  The metal has been put to one of its most imaginative uses by Naked, Inc., who manufactures a line of clothing incorporating silver threads that help neutralize body odor.  Along those lines, other manufacturers like Ralph Lauren are incorporating silver thread in a range of clothing which is able to monitor the wearer’s vital signs, such as heart rate and temperature.

A concluding panel discussion examined issues affecting silver’s industrial potential in a growing economy and its uses where silver’s unique properties outweigh all other factors.  Panelist Mitch Krebs, President and CEO of Coeur Mining Inc., and the current President of the Silver Institute, said after the conference: “The panel discussion showcased many of silver’s unique attributes that were reflected during the entire conference – it has an incredibly broad and growing number of uses and has an especially strong appeal with investors.”

The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. Established in 1971, the Institute’s members include leading silver producers, prominent silver refiners, manufacturers and dealers.  The Institute serves as the industry’s voice in increasing public understanding of the value and many uses of silver, and also creates programs across many platforms that benefit the white metal. For more information on the Silver Institute, or silver in general, please visit: www.silverinstitute.org.

Contact:
Michael DiRienzo
The Silver Institute
Tel: +1 202-495-4030
e-mail: mdirienzo@silverinstitute.org